Indian rupee rises 41 paise to 76.05 against US dollar

On Friday, the local unit had settled at 76.46 against the US dollar.

"A positive start to the Asian equity markets could also support domestic equity markets and could lend support to local currency markets. Asian equities started with marginal gains on Monday morning ahead of busy week on the data front and central bank meetings," Reliance Securities said in a research note.

Meanwhile, investor sentiment remained fragile amid concerns over the impact of coronavirus pandemic on the domestic as well as global economy.

The number of cases around the world linked to COVID-19 has crossed over 29.91 lakh. In India, over 27,800 cases have been reported so far.

Domestic stock exchanges opened on a positive note with benchmark indices Sensex trading 641.60 points higher at 31,968.82 and Nifty up by 183.95 points at 9,338.35.

Foreign institutional investors remained net sellers in the capital market, as they sold equity shares worth Rs 207.29 crore on Friday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 1.82 percent to USD 21.05 per barrel.

The dollar index, which gauges the greenback's strength against the basket of six currencies was trading 0.40 per cent down at 99.97.

dollar in early trade